Banker's Cheque or say pay order is an instrument, generally non-negotiable, issued by the bank on behalf of the customer, containing an order to pay a specified sum to the specified person, in the same city. On the other hand, demand draft is a financial instrument, used by people for the purpose of transferring money from one place to another. Whether it is a banker's cheque or a demand draft, the validation period of the two instruments is 3 months, i.e. after the expiry of three months, … [Read more...]
Difference Between Cheque and Demand Draft
The cheque is simply, an instrument, which contains an order to the bank to pay the specified sum from the drawer's account to the holder of the instrument. On the other hand, demand draft is a financial instrument that is payable on demand. Banks are integral part of our life as millions of transactions take place every next minute, in which the bank is involved in some way or the other, such as depositing cash and valuables, withdrawing cash at any time, transferring money from one place to … [Read more...]
Difference Between Demand and Supply
The two driving forces of the market and also the economy, i.e. demand and supply. Demand implies the desire for a good, supported by the ability and readiness to pay for it. On the other hand, supply, alludes to the total amount of a commodity ready for sale. When demand rises there is a shortage in the supply and when a supply is enough the demand falls short, so there is an inverse relationship between these two elements. Nowadays people are very selective regarding the things they use, … [Read more...]
Difference Between Revenue and Profit
A business entity always focuses on increasing revenue, because it is the revenue which decides its fate. In addition to this, the profit of the company also greatly depends on the revenue earned. For earning profits, revenue should always be more than the cost of inputs, or else the firm would not be able to survive in the long run. Revenue is the proceeds which a firm earns from different activities, in a particular period. On the contrary, profit, as we all know, is the surplus of income … [Read more...]
Difference Between EPF and PPF
Provident Fund is an investment fund, wherein specified individuals can make the contribution, and a lump sum amount which includes the principal and interest thereon is paid to the holder, either on maturity or on retirement. EPF or Employees Provident Fund refers to an arrangement whereby a certain percentage of the salary of the employees is deducted every month to contribute it towards the EPF account. On the other hand, PPF or Public Provident Fund is one such scheme for the general … [Read more...]
Difference Between Sales and Marketing
While sales is more of transaction-based, marketing aims at winning and retaining the customers for the long term. These two often share a common goal of increasing the company's revenue but differ in their functions and process. Basically sales imply the exchange of products and services for money or money's worth. On the other hand, marketing is an umbrella term which indicates a set of activities that starts with the market research and ends with consumer satisfaction. The focus of the two … [Read more...]
Difference Between Economics and Finance
The term economics refers to a science of making logical decisions regarding the use of scarce resources, so as to satisfy the most compelling of unlimited wants. It is many times juxtaposed with the term finance. Finance is defined as the study and management of funds for the purpose of wealth maximization. While economics studies how people, maximize gains from limited resources, i.e. select the best alternative with the objective of maximizing the level of satisfaction. Conversely, finance … [Read more...]
Difference Between Micro and Macro Economics
Micro Economics talks about the actions of an individual unit, i.e. an individual, firm, household, market, industry, etc. On the other hand, the Macro Economics studies the economy as a whole, i.e. it assesses not a single unit but the combination of all i.e. firms, households, nation, industries, market, etc. ‘Economics’ is defined as the study of how humans work together to convert limited resources into goods and services to satisfy their wants (unlimited) and how they distribute the same … [Read more...]
Difference between Biography and Autobiography
The two traditional forms of literature that describe the character sketch and course of the life of a person are biography and autobiography. Biography is the life history of an individual, written by someone else, whereas the autobiography is an expression of a person's life, written by self. Both of these two presents the view of, what happened in the past where the author lived. These are non-fiction books, written in chronological order, tells a story about the person who made a … [Read more...]
Difference between Biodegradable and Non-Biodegradable Substances
We often counter terms like 'biodegradable' and 'non-biodegradable' in a variety of things and products around us. From household items to the food we eat, basically, everything can be labeled in either of the two categories. So, what is this stuff all about and why is it so important to know the difference between them. Content: Shares Vs Debentures Definition Key Differences Conclusion Definition of Biodegradable Substances The term 'Biodegradable' is used for those things … [Read more...]